Nada Sweets eyes 10% growth in 2022

Nada Sweets aims to achieve a 10% growth in sales by the end of this year.

Mohamed Qutb Nada, Chairman of Nada Sweets, said that the company intends to export to several African countries during the coming period.

He added that the company produces dairy of all kinds, along with various types of sweets, which the Coronavirus pandemic has negatively affected as a result of the low demand with continuous warnings against eating sugar.

He explained that the expectations that the Coronavirus will recede with the increase in the number of citizens who received the vaccine will increase the purchasing power, but the turnout will not reach pre-pandemic levels.

Nada added that the company decided to postpone all plans related to offering new products or injecting investments and adding production lines until the market stabilizes and the demand for products rises again, to avoid the accumulation of production in the markets.

He pointed out that the last period saw the exit of many companies working in the field of sweets industry from the market, but it is expected that new companies will join the market if the demand for these products increases during the coming period.

He said that the company is focusing on participating in some exhibitions to discuss the possibility of opening new export markets, pointing out that there are current negotiations with some African companies for export during the current year.